General Dynamics/ATK Team to Supply 120 mm Tank Ammunition to the Australian Army
ST. PETERSBURG, Fla. – A team composed of General Dynamics Ordnance and Tactical Systems, a business unit of General Dynamics (NYSE: GD), and ATK (Alliant Techsystems, NYSE: ATK), has been awarded a $39 million contract by the Commonwealth of Australia to produce 120 mm tank ammunition. The contract, for an undisclosed quantity of tactical and training ammunition, represents the Commonwealth’s first procurement of ammunition to equip 59 M1A1 AIM tanks currently on order from the U.S. Government.
“We have a long history of working with Australia and are delighted that the Commonwealth has decided to equip its new fleet of tanks with the best-performing family of 120 mm tank ammunition in the world,” commented Mike Wilson, president of General Dynamics Ordnance and Tactical Systems. “We are equally pleased to be teamed with ATK to fulfill the Australian requirements and to be working closely with ADI Limited, the principal Australian ammunition manufacturer, for future Australian tank ammunition needs.”
General Dynamics Ordnance and Tactical Systems will be the program prime contractor and will produce the latest 120 mm KEW-A2 tungsten APFSDS-T cartridge, as well as quantities of training ammunition, for the Australian Armed Forces.
Tom Wilson, vice president, ATK Precision Systems Group, whose Ordnance and Ground Systems business unit will produce both the M830A1 Multipurpose round and training ammunition under the contract, said, “ATK and General Dynamics Ordnance and Tactical Systems have long been the world’s premier manufacturers of tank ammunition for the U.S. and its allies. The coming together of the two companies to create a streamlined team to fulfill the Australian Army’s requirements will allow for economies on the program while generating a true integrated product team for the Australian 120 mm ammunition family.”
ATK is a $2.4 billion advanced weapon and space systems company employing 13,600 people in 23 states. News and information can be found on the Internet at www.atk.com.
ADI is Australia's leading defence company and provides a greater range of defence technologies and services to the Australian Defence Force than any other Australian company. Further information on ADI can be accessed via the Internet on http://www.adi-limited.com.
General Dynamics, headquartered in Falls Church, Virginia, employs approximately 71,600 people worldwide and anticipates 2004 revenue in excess of $19 billion. The company is a market leader in mission-critical information systems and technologies; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and business aviation.
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Any "forward-looking statements" contained in this press release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
General Dynamics Corporation (ticker: GD, exchange: NYSE)
News Release - Thursday, December 9, 2004
Press Contact: (727) 578-8144
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